RETAIL PREMISES WITH SELF-CONTAINED FOUR-BEDROOM MAISONETTE - 77 MARKET JEW STREET, PENZANCE TR18 2LG
Property available freehold - £250,000 or shop available on new lease at £7,200 per annum
Retail premises with self-contained four-bedroom maisonette with sea views lying at the bottom of Market Jew Street close to the junction with Albert Street and Adelaide Street.
Penzance lies at the western end of the Cornish peninsula facing on to Mount’s Bay on the south coast of Cornwall.
The property lies at the bottom (north-eastern) end of Market Jew Street close to the junction with Albert Street and Adelaide Street. The area is a secondary retailing location and nearby occupiers include Sports Direct, Penzance Dental and a range of independent retailers, hairdressers and barbers. The railway station lies a short distance to the east.
The ground floor shop has a bow fronted glazed shop front with glazed entrance door and stairs from the rear of the shop lead down to a lower ground floor level which comprises storage room, staff area with kitchen facility displaying sea views and staff toilet.
The upper floor residential part is accessed via a door in the front elevation at ground floor level leading to a covered passageway with rear door leading to a small rear courtyard. Stairs off the covered passageway lead to the upper floors. The first floor comprises a living room and kitchen, a toilet lies off half landing level between first and second floor. The second floor comprises three bedrooms and a bathroom with WC and bath. The attic floor comprises a double bedroom and storage space within the roof eaves.
ACCOMMODATION: (All dimensions and areas are approximate)
Net internal width 3.97 m narrowing to 2.49 m at the rear
Shop depth 10.09 m
Sales area 33.04 m² (356 ft²)
Lower ground floor
Front consulting room/store 17.57 m² (189 ft²)
Rear staff area 14.84 m² (160 ft²)
Living room 4.48 m x 5.13 m (max) 22.53 m² (242 ft²)
Kitchen 2.79 m x 4.63 m 12.92 m² (139 ft²)
WC 1.49 m x 0.88 m 1.31 m² (14 ft²)
Bedroom 1 2.38 m x 5.12 m (max) 12.44 m²
Bedroom 2 1.97 m x 4.12 m (max) 7.94 m² (85 ft²)
Bedroom 3 2.58 m x 3.92 m (max) 7.19 m² (77 ft²)
Bathroom 1.74 m x 1.91 m 3.32 m² (36 ft²)
Bedroom 4 44.54 m x 6.41 m (max) 26.02 m² (280 ft²)
The ground floor shop and lower ground floor staff/storage area is available on a new internal repairing lease for a term to be agreed at £7,200 per annum. A three-month rent deposit will be payable by an ingoing tenant.
The property is available freehold subject to an existing Assured Shorthold Tenancy on the upper floors which was granted for a term of six-months from 1st October 2022 at a rent of £700 per month.
£250,000 is sought for the freehold interest.
BUSINESS RATES/COUNCIL TAX:
Ground floor/lower ground floor Rateable Value £5,800
Upper floor residential part Council Tax Band D
Cornwall Council are the charging authority and enquiries regarding the rates payable should be made with them - Tel: 0300 123 4171.
We understand that the property is not registered for VAT.
On a leasehold transaction the ingoing tenant will be responsible for the landlord’s reasonable costs incurred in the preparation and execution of the lease.
We understand the property is connected to mains electricity, mains gas, mains water and mains drainage. The gas supply is to the upper floors only and the residential part is fitted with gas central heating with a gas fired combi boiler. Sub-meters exist for the electricity and water supply to the upper floor residential part. We have not tested the services connected to the premises and the ingoing tenant/purchaser should carry out their own inspections.
The property lies within the Penzance Conservation Area. Interested parties should satisfy themselves that their proposed use complies with the existing planning consent.
MONEY LAUNDERING REGULATIONS:
In line with The Money Laundering Regulations 2017, Charterwood are obliged to verify ID for all applicants that are conducting property transactions through the Company.
ENERGY PERFORMANCE CERTIFICATE:
Upper Floors Residential Part
Certificate Reference Number: 0370-2507-8180-2622-8911
Ground floor shop and lower ground floor
Certificate Reference Number: 1545-9645-3961-4916-2801
Recommendation Report Number: 7726-0927-5863-2171-3731
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